The Pituffik Space Base (formerly Thule Air Base) in Greenland Global markets faltered as fresh tariff threats from U.S. President Donald Trump reignited fears of a renewed trade clash between Washington and key European partners. The announcement targeted several EU nations and immediately sent shockwaves through equities, currencies, and commodities. European stocks opened sharply lower, with export‑heavy sectors—particularly autos, luxury goods, and industrials—bearing the brunt of the selloff. Major multinational firms saw billions wiped from their market value within hours as investors braced for potential retaliatory measures from Brussels. The proposed tariffs, set to begin at 10% and potentially rise to 25% later in the year, stem from escalating geopolitical disagreements that have st...
Canada’s Capital-Gains Tax Hike Faces Crucial Vote
In a pivotal moment for Canadian finance, Prime Minister Justin Trudeau’s government is set to call a vote on a contentious tax change. The proposed hike in the capital-gains tax inclusion rate has sparked debate across the nation, with significant implications for both individuals and businesses.
- Tax Change Proposal: The government plans to increase the capital-gains tax on gains over C$250,000, affecting a small percentage of Canadians.
- Potential Impact: Business groups have criticized the move, fearing it could deter investment and exacerbate productivity issues.
- Political Strategy: The Liberals have separated this tax change from the budget bill, possibly aiming to challenge the Conservatives politically.
- Revenue Expectations: The tax hike is estimated to generate almost C$20 billion over five years, funding new programs in housing and national defense.
The vote, scheduled for Monday, will be a defining moment for Trudeau’s fiscal policy and could set the stage for Canada’s economic direction in the coming years.
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